Some examples from this set of practice questions
1.
Explain the cross-functional coverage
Answer: The cross-functional coverage, refers to the different tasks in a project team, that are equally important and has to work together to create NPD success.
2.
What are the six disciplines of the cross-functional coverage?
Answer: 1. Marketing 2. Design 3. R&D 4. Operations 5. Finance 6. Sales
3.
What is a new product (definition)?
Answer: New products are goods and services that differ significantly in their characteristics or intended uses from products previously produced by the firm or existing on the market.
4.
What are the four dimensions along which new product development can be classified?
Answer: 1/2. Internal vs External 3/4. Product vs Process
5.
What is the strategic importance of new product development?
Answer: - Integrate innovation strategy with overall strategy - Align innovation objectives with strategic objectives - Quantify innovation objectives
6.
What are the Stage-Gate principles?
Answer: Dividing the NPD project into feasible shorter-stages with specific objectives that at the same time serve as a roadmap for achieving the project\'s long-term objective 2. Specifying the gate deliverables and the criteria for making effective go-/no-go decisions at these gates 3. Separating the team generating and presenting the gate deliverable and the committee making the go-/no-go decision.
7.
What are the four operational outcomes?
Answer: - Development costs - Market entry timing - Technical product quality - Product competitive advantage
8.
What are the four dimensions to success?
Answer: 1. Technical measures 2. Timing measures 3. Market measures 4. Financial measures
9.
What are some possible methods to measure success against?
Answer: - Plan/objectives - Recently introduced comparable products - Competitors’ products
10.
What are the remedies of the Stage-Gate principle? (name 5)
Answer: - Fluidity: Overlapping stages - Fuzziness: Conditional/situational decisions instead of absolute - Flexibility: Scalable process, not all stages are required for every project - Focused: Building in portfolio decisions - Agility: Agile-Hybrid-Stage-Gate-Models
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